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Things to Consider When Selecting Strata Management

Things to Consider When Selecting Strata Management

A strata management company will be chosen by an owners’ corporation to manage their strata title development. You need to understand the key factors to look for when choosing the right strata management for you.

One of the major qualifications of a strata management company is their experience. It can be quite a complicated task to manage a strata scheme. A strata manager has to multitask in order to fulfil the role to its full capacity. For example, the strata management should be proficient in accounts, mediation, technical knowledge and also expertise on up to date software. Some of the qualifications you should look for are whether the management company has worked for similar building developments matching the same scale, facilities and function. Also, experience in mixed use development is a bonus. When it comes to the expertise, Changing strata managers Sydney has a variety of experts that focus on specific areas which will give you solutions curated to your issues.

The strata management firm should be licensed through an appropriate body with documentation to prove it. They should also be in possession of a professional indemnity insurance cover. Companies that stay up to date with current trends and industry practice tend to be quicker on the uptake when it comes to taking care of problems. They will also be able to offer innovative solutions that will make the day to day operational needs of the strata go smoothly.

The price point is another important factor to consider. You need to know what the payment terms are and what you are getting for that price. Some companies may offer a plethora of services that you may not even need. So before you pick a company, your strata requirement should be crystal clear. The strata management that fits your brief will depend on the scale and nature of your development.

The location of the company will also matter you will have the strata manager respond quickly if there is a company with an office local to your building. They will also be able to build better and closer relationships with the other contractors who maintain the building such as cleaners and repairmen. Also, it is much easier to understand the local issues such as local reservations or restrictions.

When you meet with a potential strata management company, it is better to ask to meet with the person that will be working with you. This way it will allow you to gauge their strata experience, the duration they have worked with the company and their communication capabilities. There should be specific answers given to your queries so that you can be assured of their straightforwardness. You can also ask whether they have references from previous developments that you can speak to. You also need to know the size of the company and how long they have been in business. It will be quite helpful for you if the company has divisions that specialize in certain areas such as legal services, taxes etc.